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Market Update : 
Surging Oil Hurts Sentiment
Author: Elena Todorova
123jump.com
Last Update: 9:13 AM EDT August 07 2006


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U.S. equity futures were sent lower by a spike in energy prices following a shutdown of a major oil field in Alaska. Crude oil September delivery jumped 2% to $76.25 a barrel. Energy company El Paso Corp. posted $141 million Q2 profit in contrast to a loss a year ago due to a 4% rise in revenue. Company''s shares rose 2.7% in pre-market trading.

 

 

 
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